Clark Real Estate Market Report - August 2018

By
Real Estate Agent with Samsel & Associates 0790808

Let's take a look at how the real estate market in Clark performed in August of 2018.

Inventory:

In July, 45 single family homes were sold and 88 homes were offered for sale, down from 102 homes offered for sale in June and compared to the 12 month average of 80 homes offered for sale. To search for listings, please click here.

 More homes are offered for sale in the spring and summer than in the winter which explains the peaks and valleys in the red line above, the active listings over the last 6 years. The blue line represents sold listings in Clark over the last 6 years and the straight light blue line represents the trend in sales, eliminating the monthly variation and showing a long term trend of upwards sales. Buyers find Clark attractive, and homeowners benefit in the form of increasing sales prices and decreasing days on market.  This is a seller's market - there are more buyers than there are sellers in Clark - but there is some evidence that the market is slowing down in anticipation of the autumn. 

Prices:

The average list price in Clark in July was $555,091 and the average sale price was $501,944, about 8% higher than the 12 month average and 6% lower than June of 2018. Homeowners are continuing to see a strong return on their real estate investment in Clark.

When you look at the graph of home prices in Clark, it's obvious that there are tremendous variations from month to month. As a rule, prices are higher in the summer and lower in the winter due to supply and demand, but of course there are exceptions to this rule. One exception is extreme homes - those that sell for far below or far above the typical home sale in Clark. Short sales, foreclosures and homes in disrepair often sell for less than market average. The important thing to note in the graph is the straight black line which represents the long term trend, eliminating the seasonal variability and the variability brought on from extreme cases. The trend line continues to show a healthy improvement in prices in Clark over the past 6 years and the forecast is for prices to continue to increase. Homeowners are likely to see an increased return on investment as time goes on.

Days on Market:

One of the questions we're asked most often is how long it takes to sell a home in Clark. The average sold home in Clark in July was sold after only 45 days on the market whereas the average home sold over the past 12 months was sold in 41 days. 

Of course, there are exceptions to this rule and the graph's dramatic variations are indicators of this.

Homes sell faster when they are:

  1. In pristine updated condition,
  2. Are marketed aggressively, and
  3. Are priced correctly.

The black straight line on the graph is the trend line and it demonstrates the long term trend of the number of days a home takes to sell, eliminating mathematically the variations. The Clark real estate market demonstrates a strong improvement in sales time over the past 6 years.

What this means for buyers:

  • Be educated. Learn what kind of home you want. Decide with your family members what you need in a home and what you want in a home.
  • Be informed. Spend some time getting to know the inventory. Learn what homes look like in your price range. Learn what home features you can afford.
  • Be ready. Have your pre-approval ready so that you can act quickly when you find your perfect home.

What this means for sellers:

  • If you're on the fence about selling your home, this may be the perfect opportunity to get the most money in the shortest amount of time.
  • Even in a shrinking inventory situation, you're still competing with other homes on the market. View the other homes that are offered for sale and make sure your home is the best one in its price range.
  • Make your home available for potential buyers.

To read more about the real estate market in Clark, please read our earlier market reports here.  For more information on how Team Zuhl can help you, please click here or call us at 908-917-4189.

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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Tags:
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buying a home in clark
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Rainmaker
3,053,996
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Wayne and Jean Marie: This is true of all market conditions, I've found:

Homes sell faster when they are:

  1. In pristine updated condition,
  2. Are marketed aggressively, and
  3. Are priced correctly.
Aug 23, 2018 06:06 AM #1
Rainmaker
1,137,660
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

Buyers need to be ready with pre-approval in hand so they can act quickly. Sage advice for buyers in a competitive market 

Aug 23, 2018 08:01 AM #2
Rainmaker
5,343,160
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local market reports.

Aug 25, 2018 08:49 AM #3
Rainmaker
4,064,330
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Wayne & Jean, excellent data for the Clark real estate market, and anyone looking to see how the market is doing! 

Aug 26, 2018 05:09 AM #4
Rainmaker
1,895,973
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Wayne and Jean - it is still a sellers market for sure with just a seasonal downturn.

Aug 31, 2018 12:57 PM #5
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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